Life Insurance - What You May Have Missed
What You’re Probably Overlooking…
Because “I’ve got a guy” only gets you so far…
A while back, you needed life insurance. A neighbour or co-worker said, “I’ve got a guy,” and soon after that, you had a policy. Problem solved… for now.
But here’s the truth. Life insurance isn’t a one-time decision. It’s something that needs occasional review because life changes, and when it does, your coverage may need to change, too.
Here’s What to Look At Right Now:
🔹 End of Term Date
If you have term insurance, when does the level premium end? You don’t want to find out the hard way, like when your $200/month payment suddenly becomes $2,500. Know the date, and plan ahead.
🔹 Lapsed Coverage
If your policy lapsed due to missed payments or expiration, you could be uninsured when your family needs protection the most. It’s worth checking before it’s too late.
🔹 Beneficiary Review
Is your ex-spouse still the named beneficiary? Have your children grown into trusted adults who could now receive benefits directly? Has your primary beneficiary passed away, and you’re unsure if a contingent beneficiary is listed? A quick review now can avoid confusion or heartbreak later.
🔹 Cash Value Review
Permanent life insurance policies with cash value can shift over time. The original projection might have shown coverage to age 100, but if the performance has lagged, it could “implode” (expire early) by age 90 or sooner. Maybe you’re still paying interest on a policy loan, even though you now have the funds to pay it back? These details matter.
🔹 Health Changes
Have you stopped smoking, or have you lost a significant amount of weight? You might qualify for lower rates. On the flip side, if you’ve had a major health event, now may be the only time to convert your term policy to a permanent one, without new medical underwriting.
These are just a few of the hidden pitfalls and overlooked opportunities you can uncover while completing your LifeBinder or reviewing your policy with a trusted insurance professional.
💡 Peace of mind doesn’t just come from having life insurance. It comes from knowing it’s up to date, properly structured, and easy for your loved ones to find when it’s needed most.
Want to stay on top of your life policy and documentation?
👉 Get LifeBinder today, One-time payment, lifetime access.